Qpex Biopharma Secures $33 Million Series A Financing to Advance Novel Antibiotics Against Antimicrobial Resistance

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Qpex Biopharma, a biotechnology company headquartered in San Diego, California, raised $33 million in its Series A financing round. The round was led by New Enterprise Associates, with participation from Adams Street Partners, LYZZ Capital, Hatteras Venture Partners, the Stanford University Draper Fund, and the Biomedical Advanced Research and Development Authority (BARDA). The company did not disclose detailed information regarding the use of proceeds from this financing round.

Qpex Biopharma is primarily engaged in biotechnology services. Under the leadership of its President and Chief Executive Officer, Michael Dudley, Qpex is committed to developing new antibiotics to address global antimicrobial resistance. Upon completion of the transaction, Qpex acquired MediciNova’s (MDCO) preclinical anti-infective research assets, including proprietary beta-lactamase inhibitor technology characterized by unique pharmacological properties and broad-spectrum activity.

The Qpex management team is composed of former executives from The Medicines Company’s infectious disease division, who have been involved in the development and approval of four antibiotics over the past five years, three of which were developed during their tenure at The Medicines Company. Additionally, the Qpex management team includes members who previously held managerial positions at prominent antibiotic companies Rempex Pharmaceuticals and Mpex Pharmaceuticals.

Qpex has established a strategic partnership with BARDA through its wholly-owned subsidiary, under which BARDA provides up to $132 million in funding for the development of novel antibiotic combinations targeting drug-resistant Gram-negative infections. This partnership was established under the auspices of an Other Transaction Authority (OTA). The initial contract signed in 2016 was worth $32 million, and Qpex could receive an additional $100 million if BARDA exercises all options to extend the collaboration.

(NEA) is a global venture capital firm dedicated to helping entrepreneurs build transformative businesses across multiple stages, industries, and regions. Since its founding in 1977, the firm has deployed over $19 billion in capital, primarily investing in technology and healthcare companies, with investment stages ranging from seed to IPO. The company has successfully facilitated the initial public offerings (IPOs) of more than 210 portfolio companies and completed over 360 acquisitions.

Adams Street Partners is a private equity investment firm founded in 1972. Since its inception, the firm has completed over 240 investments and currently manages more than $20 billion in assets. The company primarily invests in growth-stage and development-stage technology and healthcare companies in the United States, with investment amounts ranging from $50,000 to $20 million.

LYZZ Capital, established in 2015 and headquartered in Shanghai, China, is a venture capital management firm specializing in private equity investment, fund management, mergers and acquisitions, restructuring, and other investment banking services. Founded by seasoned professionals from the biopharmaceutical and healthcare industries, the firm is operated by an investment management team with extensive experience and strong professional expertise. Leveraging deep industry background and resources in the biopharmaceutical sector, LYZZ Capital is currently managing its inaugural US dollar-denominated fund.

Hatteras Venture Partners, established in 2000, is a U.S.-based venture capital firm composed of an experienced team dedicated to building successful new biopharmaceutical companies. The Hatteras Venture Partners team primarily invests in the fields of biopharmaceuticals, medical devices, diagnostics, and human medicine, providing operational expertise to its portfolio companies to enhance their value. The firm currently manages over $120 million in assets.